News That Matters

Tag: 4600

4,600 jobs to go at jet engine maker Rolls-Royce

4,600 jobs to go at jet engine maker Rolls-Royce

Business
Rolls-Royce is to cut 4,600 managerial and support jobs as the jet engine maker introduces its latest restructuring plan.  Most of the jobs will be axed in the UK, where the FTSE 100 company employs 23,000 out of a global workforce of 50,000.A third of the jobs are expected to go by the end of this year and the rest by the middle of 2020.Rolls-Royce chief executive Warren East signalled the move in March as the company battled to keep to its financial targets and amid problems with its Trent 1000 engines.It has replaced the fan blades on turbines powering Boeing 787 airplanes after cracks and corrosion were found on jets operated by Japan's ANA airline.Mr East said: "It is never an easy decision to reduce our workforce, but we must create a commercial organisation that...
Rolls-Royce announces 4,600 job cuts

Rolls-Royce announces 4,600 job cuts

Business
Engineering firm Rolls-Royce is to cut 4,600 jobs over the next two years as part of a major reorganisation.Middle managers and back-office staff are to bear the brunt of the cuts, which are expected to hit its Derby base hard.The company is refocusing its business on civil aerospace, defence and power systems.About a third of the job cuts are expected to happen by the end of this year, Rolls-Royce said. The programme is expected to continue throughout 2019, with full implementation by mid-2020.Rolls-Royce said that the programme would cost £500m to carry out, including redundancies, but would save it £400m a year by the end of 2020.The firm also said it would continue to work on its problems with its Trent 1000 engin...